Business
Star Navigation Completes Private Placement
Star Navigation Completes Private Placement.
About this update from Star Navigation Systems Group Ltd.
[{"type":"text","content":"\n\n\n\n\nTORONTO, May 11 /CNW/ - Hilary Vieira, President of Star Navigation\nSystems Group Ltd. (TSX.V: SNA) (FSE: s3o) is pleased to announce that,\nsubject to TSX-V acceptance, Star has completed a non-brokered private\nplacement for gross proceeds totaling $1,302,610 representing 3,721,743 units\nat $0.35 per unit. Each unit is comprised of one common share and one common\nshare purchase warrant that entitles the holder to purchase an additional\ncommon share at $0.45 until May 8, 2007.\nProceeds from the private placement are for general working capital\npurposes.\n\nAbout Star Navigation....\n\nStar Navigation Systems Group Ltd. (www.star-navigation.com) owns the\nworldwide license to a product without peer, its proprietary, patented \nIn-flight Safety Monitoring System - ISMS(TM), the first system in the world\nto feature in-flight data-analysis, - monitoring and -diagnostics with a \nreal-time connection between aircraft and ground. Its real-time capability of\ntracking performance-trends and predicting incident-occurrence enhances\naviation safety and improves fleet management while reducing costs for the\noperator.\n\nCertain statements contained in this News Release constitute forward-\nlooking statements. When used in this document, the words \"may\", \"would\",\n\"could\", \"will\" and similar expressions, as they relate to Star or its\nmanagement are intended to identify forward-looking statements. Such\nstatements reflect Star's current views with respect to future events and are\nsubject to certain risks, uncertainties and assumptions. Many factors could\ncause Star's actual performance or achievements to vary from those described\nherein. Should one or more of these factors or uncertainties materialize, or\nshould assumptions underlying forward-looking statements prove incorrect,\nactual results may vary materially from those described herein as intended,\nplanned, anticipated, believed, estimated or expected. Star does not assume\nany obligation to update these forward-looking statements. The TSX Venture\nExchange has not reviewed and does not accept responsibility for the adequacy\nor accuracy of this press release.\n\n\n%SEDAR: 00009078E\n\n\n","length":2237,"tagName":"div"}]